OSI PHARMA HIT HARD BY TARCEVA NEWS

Shares of OSI Pharmaceuticals Inc. fell more than 8% on Tuesday after research partner Genentech said that preliminary Phase II clinical results had shown OSI's drug Tarceva not to be very effective in battling kidney cancer. In a release early Tuesday, Genentech said an early analysis of the results showed that Tarceva did not appear to impart any added benefit when used in combination with Genentech's oncology drug Avastin to treat renal cancer.

MarketWatch (http://www.marketwatch.com/news/archivedStory.asp?archive=true&dist=ArchiveSplash&siteid=google&guid=%7B36952BFC%2D0B2D%2D45B2%2D953D%2DEB5459A3F849%7D&returnURL=%2Fnews%2Fstory%2Easp%3Fguid%3D%7B36952BFC%2D0B2D%2D45B2%2D953D%2DEB5459A3F849%7D%26siteid%3Dgoogle%26dist%3D%26archive%3Dtrue%26param%3Darchive%26garden%3D%26minisite%3D)